When One Has Too Much Money - Page 4

Porcelain · ‎02-19-2014

@jannabelle1 wrote:
Money laundering?? LOL - that's a bit overreaching! No one here knows how much money the buyer gives to charities, but it really doesn't matter. The money spent is his (or hers) to spend on whatever he wants!

From the article, How Common Money Laundering Techniques Work on Ebay:

"One way that unscrupulous people are trying to transact with dirty money is to set up fake listings on eBay. It looks like a real transaction, but the price is usually astronomically inflated for the type of item, and the sales price does not make sense. Here is how it works:

Let's say Jim has a customer who wants to buy something illegal, such as drugs, stolen property, or weapons. Rather than create a transaction with cash, Jim tells his customer he will set up a listing on eBay for a particular item at a very inflated price. He will then send a link to the item to the client. This is called a "prearranged sale."

No one will actually buy the grossly overpriced item, and Jim's client will purchase it, sending the money through Paypal. Also, eBay gets its fees and Paypal gets its fee of 3 percent. Jim ships a box of rocks or some insignificant item to the client's address and no one is the wiser.

Once the transaction has taken place on eBay, and the money is in Jim's account, he meets up with his client to deliver the actual goods which again may be drugs, weapons, or some sort of contraband. The transaction takes place, the money has changed hands, the illegal goods are delivered, and all of this is done under the radar."

If the price for something is bizarrely overinflated, it's cause for healthy suspicion and investigation. With the price of a normal chicken nugget at about 50 cents...and the $100,000 nugget that looks much more like a Minion much than any anime character I've ever seen...it should be investigated, I am sure that is already happening. That is, if the money even ever changes hands.

When you’re accustomed to privilege, equality feels like oppression.
"Power without love is reckless and abusive, and love without power is sentimental and anemic." - Dr. Martin Luther King Jr

Ladybug724 · ‎03-12-2010

@Porcelain wrote:
@jannabelle1 wrote:
Money laundering?? LOL - that's a bit overreaching! No one here knows how much money the buyer gives to charities, but it really doesn't matter. The money spent is his (or hers) to spend on whatever he wants!
From the article, How Common Money Laundering Techniques Work on Ebay:

"One way that unscrupulous people are trying to transact with dirty money is to set up fake listings on eBay. It looks like a real transaction, but the price is usually astronomically inflated for the type of item, and the sales price does not make sense. Here is how it works:

Let's say Jim has a customer who wants to buy something illegal, such as drugs, stolen property, or weapons. Rather than create a transaction with cash, Jim tells his customer he will set up a listing on eBay for a particular item at a very inflated price. He will then send a link to the item to the client. This is called a "prearranged sale."

No one will actually buy the grossly overpriced item, and Jim's client will purchase it, sending the money through Paypal. Also, eBay gets its fees and Paypal gets its fee of 3 percent. Jim ships a box of rocks or some insignificant item to the client's address and no one is the wiser.

Once the transaction has taken place on eBay, and the money is in Jim's account, he meets up with his client to deliver the actual goods which again may be drugs, weapons, or some sort of contraband. The transaction takes place, the money has changed hands, the illegal goods are delivered, and all of this is done under the radar."

If the price for something is bizarrely overinflated, it's cause for healthy suspicion and investigation. With the price of a normal chicken nugget at about 50 cents...and the $100,000 nugget that looks much more like a Minion much than any anime character I've ever seen...it should be investigated, I am sure that is already happening. That is, if the money even ever changes hands.

@Porcelain Thank you for this great explanation! It makes total sense! I never even realized this was happening

Tinkrbl44 · ‎08-23-2010

@Anonymous032819 wrote:
@ECBG wrote:
Whenever I see something like what this person did, I think of all of the people that could have been helped.
The possibilites that are lost are so sad, although, the buyer wouldn't have likely donated.

Maybe the buyer did both. Why always assume the worst? Why not think positively, and assume that they have enough money to do both?

Not everyone broadcasts their donations, because if they did, they would be accused of doing it for the attention, right? Yet, if they don't say anything, then it's assumed that they never donate.

Hell of a catch-22, right?

@Anonymous032819

Very well stated. I am always shocked by the number of people who get all holier-than-thou self-righteous about how an amount of money SHOULD have been spent ... according to them. What is wrong with people?

A HUGE number of people donate anonymously so they won't be hounded by millions wanting a hand out. And some who "seem" to not be donating actually have set up charitable foundations of their own for the cause that matters most to them.

The thing these critical people should remember is .... if you earned it, you get to decide how to spend it, and who to donate to. No one else has that right ... but they sure love telling others how to spend their own money.

Tinkrbl44 · ‎08-23-2010

@jannabelle1 wrote:
Money laundering?? LOL - that's a bit overreaching! No one here knows how much money the buyer gives to charities, but it really doesn't matter. The money spent is his (or hers) to spend on whatever he wants!

@jannabelle1

Newsflash: Money laundering is astoundingly HUGE and you'll be shocked by all the crazy ways it happens. Many think it's an occasional thing, but it happens all the time. No kidding.

Tinkrbl44 · ‎08-23-2010

@Porcelain wrote:
@jannabelle1 wrote:
Money laundering?? LOL - that's a bit overreaching! No one here knows how much money the buyer gives to charities, but it really doesn't matter. The money spent is his (or hers) to spend on whatever he wants!
From the article, How Common Money Laundering Techniques Work on Ebay:

"One way that unscrupulous people are trying to transact with dirty money is to set up fake listings on eBay. It looks like a real transaction, but the price is usually astronomically inflated for the type of item, and the sales price does not make sense. Here is how it works:

Let's say Jim has a customer who wants to buy something illegal, such as drugs, stolen property, or weapons. Rather than create a transaction with cash, Jim tells his customer he will set up a listing on eBay for a particular item at a very inflated price. He will then send a link to the item to the client. This is called a "prearranged sale."

No one will actually buy the grossly overpriced item, and Jim's client will purchase it, sending the money through Paypal. Also, eBay gets its fees and Paypal gets its fee of 3 percent. Jim ships a box of rocks or some insignificant item to the client's address and no one is the wiser.

Once the transaction has taken place on eBay, and the money is in Jim's account, he meets up with his client to deliver the actual goods which again may be drugs, weapons, or some sort of contraband. The transaction takes place, the money has changed hands, the illegal goods are delivered, and all of this is done under the radar."

If the price for something is bizarrely overinflated, it's cause for healthy suspicion and investigation. With the price of a normal chicken nugget at about 50 cents...and the $100,000 nugget that looks much more like a Minion much than any anime character I've ever seen...it should be investigated, I am sure that is already happening. That is, if the money even ever changes hands.

@Porcelain

Thanks for posting that. I've no doubt the IRS is already on that one!

If, hypothetically, this WAS an example of money laundering, I am sure that somewhere along the way, a real McNugget was purchased, photographed, put on sale, bought and delivered. Poor nugget, unwittingly getting involved in such a serious crime. Sigh.